Covered 1 Jan 40 CT at 0.48

Cotton is rallying today and my exit order was filled at 0.48. I sold it for 2.15 ($1075) and exited at 0.48, which gave me 1.7 or +$835 (before commissions). The good thing about wiring options is when markets start moving, time value evaporate quickly which boosts my profit.

Only 24 days till expiration, my max profit was $240, whereas risk was unlimted, so even if I'm willing to get assigned, I decided to exit. I'll sell a put if markets drop again.